Aviva leaves Hong Kong

Aviva, is selling its Hong Kong joint venture to its Chinese partner Hillhouse Capital. The British insurer also plans to withdraw from the Vietnamese and Indonesian markets. However, it intends to retain its business in Singapore and China which it considers as promising markets.

Aviva, whose stock market price has been falling in recent years, has embarked on a vast economy plan. The objective is to cut the expenses by 300 million GBP per year (388 million USD) by 2022. This decision results in a 6% reduction in the number of employees, that 1 800 jobs.

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